Peabody now unconfirmed over reports it could sell Mackay region mine

UPDATE 1:31PM: A Peabody Energy spokesperson has said earlier reports were incorrect and despite disagreeing with The Australian's coverage, they would not comment specifically on the reported sale of the Millennium coal mine.

They said "Australia represents a core region to Peabody with excellent access to higher-demand Asia markets through our thermal and metallurgical platform”.

"We periodically evaluate ways to optimise the portfolio to increase value,” the spokesperson said.

"This is demonstrated by our recent sale of Olive Downs South and our placement of the Burton Mine on care, maintenance and rehabilitation by year-end.”

Lazard has been contacted but is yet to provide comment.

INITIAL: Peabody Energy denies it will sell its open-cut Millennium coal mine 160km south-west of Mackay.

An article in The Australian today suggested information had been received by financial advisory and asset management firm Lazard, who also suggested Peadbody was looking to sell its underground coal mine near Helensburgh in NSW.

However, a Peabody Energy spokesperson said there was no truth to the claims and that Australia was important to the company moving forward.

The spokesperson said The Australian's reporting was irresponsible and did not help in ongoing discussions with the Peabody workforce.

Millennium Mine began operations in 2006. It employs about 375 people including contractors.

Peabody Australia recorded a loss of $2.7billion in 2015.

Its parent company in the US filed for Chapter 11 bankruptcy earlier this year.

Location of Peabody Millennium Mine Photo: Google Maps
Peabody's Millennium Mine is 160km south-west of Mackay. Google maps